Sentences with phrase «owed on the car payment»

GAP stands for «Guaranteed Auto Protection,» a sort of auxiliary protection to collision coverage that covers the difference between the amount you still owe on your car payments and the actual value of the car if it's totaled in a crash.

Now I am being sued by the insurance company I had at the time for the $ 4,000 some odd dollars that I still owed on the car payment.

Not exact matches

However, this may not be a viable option if you are behind on the payments on your existing car or your car is worth less than the amount that you owe.

Many people can get (buried) Or upside down on their car - oweing much more than what's it worth - for example: your car is worth - $ 8000 and you owe $ 12000 to the bank - stuck in a high payment loan for long term!

So two main reasons why you may not be a credit repair candidate is brand new delinquent late payments or recent charge offs and very large credit card debts or car repossessions that put the difference of what is owed on your credit file.

The answer to this one will depend on how much equity you have in the property you are concerned about, and whether you can still afford to make payments if you owe on a mortgage or car loan.

So, if you owe more on your car than it is worth, then you could be stuck making payments on a loan for a vehicle that no longer exists.

Of course, these longer loans make financing an attractive proposition since the payments are so low, but what many buyers fail to realize is that the amount of interest paid on the loan coupled with the amount of time the buyer spends being upside down in their loans (owing more than the car is worth) makes these loans a costly option.

For example, if you owe money on a credit card, then you are probably better off paying down that credit card's balance before making an unscheduled car loan payment.

So, if the amount you owe isn't already on your credit report somewhere, or it's in a «non-revolving» credit account (like a balance owed to a utility, or on a structured note like a car payment or student loan), your leverage will increase and that could lower your score.

[color = Black: 6b809e3947][color = Cyan][font = Arial: 6b809e3947] I am on KS and need a home loan of 32,000 minus 3200 for down payment, the home I am wanting has dropped in price from 35,000 to 20,000 and I owe 7,500 on my car and 4,000 on a credit card.

If you still owed money on your original auto title loan, your lender, in this case LoanMart, you will expect you to keep making payments on the loan even if the car was totaled.

My wife and I have around 6000 $ in credit card, not including car payment that we only owe about 1200 on now with 250 $ payments and I have a school loan of about 2500 $ in all including interest that I just went into forbearance with and got a new payment schedule set up to eliminate the late fees and tey to clean up my credit score.We considering debt consolidation but aren't exactly sure if it's a right fit.Our end game is to be able to buy a house in the next year or so.Would a loan for debt consolidation be a good idea for us?

These companies make it their business to track all of your credit card accounts, mortgages, car loans, and student loans — including how much you owe and on what terms, and how reliable you've been about making payments.

However, if you owe more on your car than it is worth (perhaps you've refinanced and rolled - over an existing car loan into your new car purchase) and you find the payments too expensive, (for example, the interest rate is too high), you have an option to get out of the secured financing — the bank loan or lease — through a consumer proposal or bankruptcy.

If payments aren't made, the lender has the option of seizing the car, or other asset, and selling it to offset what the borrower owes on the personal loan.

If he continues to drive his old car that does not have any payments owing on it, he will be qualified for a maximum mortgage amount of $ 268,000.

Dayna «Dear Steve, I have an upside down auto loan that I owe about $ 27,000 on a Mazda car and my monthly payments are $ 500 per month for 7 years with about 12.45 percentage interest rate.

According to Ontario law, if you're behind on the payments of your car loan or lease, the lender has the legal authority to repossess the vehicle, and even sell it to recover the amount they are owed.

If you get a taker on your car for say $ 25000 and you owe $ 25000 you had no equity in it, even though you made payments all this time.

We would only pay our mortgage payment, the trustee payment and our living expenses (they were even able to include our car, value the lien and lower the secured amount we owed on the car).

If the amount of money that is paid for your car in the auction meets or exceeds the amount of money you still owe on your car title loan balance, then you no longer have to make payments on your LoanMart car title loan.

If on the other hand, you owe less than the car is worth, you may be able to find a better deal, especially if your payment history is strong on the existing loan.

And while a smaller payment may be easier to manage, it means you may owe more than your car is worth for a long, long time — which can leave you on the hook to pay the excess balance if you sell your car or it gets totaled in an accident.

This is known as a «cram down,» and it can significantly reduce the amount you owe on your car loan, through the adjustment of the interests, a reduction in monthly payments or fewer payments over the life of the loan.

If your car is considered a «total loss» (or «totaled») after a car accident and you still owe money on the vehicle, you are not relieved of your obligation to make your car payments.

«There's a difference between being one month late on a credit card payment of $ 50 and owing $ 50,000... (or) owing on a car note and owing a large IRS or other judgement,» she says.

A budget can help you determine how much money you need to be saving, and how much you'll owe on your monthly expenses like rent, student loan repayments, car payment / insurance, groceries, and other costs.

If you and your spouse owe debt on credit cards, car loans, or medical bills, creditors can still undertake collection actions against you even if a majority of the debt is your spouse's or he or she defaults on payments he or she has agreed to pay off.

If buyers owe a great deal on car payments, credit cards, and other debts, they may not qualify for a mortgage.